New Energy Risk (NER) has been chosen as the insurance partner for Topsoe's solid oxide electrolysis (SOEC) products. This partnership aims to enhance the bankability and reduce the cost of capital for projects utilizing Topsoe's SOEC technology, like First Ammonia. The collaboration with NER will help de-risk the development of green hydrogen and power-to-X projects, potentially speeding up the global rollout of such initiatives. The contract between the two companies covers technical issues that could lead to performance drops, providing coverage to ensure cash flow and project revenue. Following a detailed technical due diligence of Topsoe's SOEC electrolyser technology, the partnership was announced. The CEOs of NER and Topsoe expressed confidence in each other's capabilities and technology, highlighting the importance of the insurance coverage in supporting customer adoption and financing of electrolyser technology. Topsoe plans to supply SOEC products from its factory in Denmark starting commercial production in Q1 2025. The collaboration aims to provide performance coverage for various project stages, enhancing bankability for customers and investors involved in projects with SOEC electrolysers.